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NYC Employment Hits Record High, Unemployment All-Time Low
Private sector employment growth across New York City rose sharply in September, adding 24,500 jobs from the prior month, the New York City Economic Development Corporation said this week. Government jobs rose by 700, pushing total employment in New York City up 25,200 to 4,519,000, and bringing citywide employment above 4.5 million for the first time.
Conversely, the unemployment rate continued falling to a new low in New York City, hitting 4.0% in September, compared to 4.5% a year ago. Hourly earnings also made above average gains, increasing 2.8% from the year-ago period to $36.57.
Education, a historically volatile sector, led growth, adding 8,400 jobs in September. Growth was strong even excluding education, though, with healthcare & social assistance and information services adding 7,400 and 3,800 jobs, respectively.
Job losses were concentrated in wholesale trade, retail trade, and professional, scientific & technical services, which lost 2,000, 1,500, and 900 jobs, respectively.
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- ◦Economy
